Turnkey Office Building with
For Sale
$200,000
14750 Puritan Avenue, Detroit, MI 48227
COMMERCIAL - Detroit, MI
Property Size3,900 SF
Lot Size0.12 Acres
Price / SF$51.28
Days on Market47
Property Features for 14750 Puritan Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bathroom 2, Bathroom 1
Elementary school district
Detroit
Middle school district
Detroit
High school district
Detroit
Standard status
Active
APN
22012263.
Size
3,900 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
BLK:502 DIST:01 CITY/MUNI/TWP:DETROIT CITY N PURITAN 55&54 W 4.55 FT 53 JAMES MURPHYS SUB L45 P91 PLATS, W C R 22/52 52
Tax Annual Amount
1749
Legal Description
BLK:502 DIST:01 CITY/MUNI/TWP:DETROIT CITY N PURITAN 55&54 W 4.55 FT 53 JAMES MURPHYS SUB L45 P91 PLATS, W C R 22/52 52
Utilities
Utilities
Natural Gas Available
Heating system
Forced Air
Amenities
full kitchen
Building Details
Year built
1960
Number of units
10
Building materials
Block
Roof type
Metal
Listing Agency:
KW Home Realty · Keller Williams Realty
(248) 626-2100
Listed By:
Cecelia Dillard · License #6501380095
(313) 516-3856
Added: Jul 15
Changed: Aug 4
Last Checked: Aug 30 at 8:06AM
MLS# 26036044
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This newly renovated commercial office building is designed for flexible use, with nine private suites and one restroom on one side of the building. The opposite side provides a spacious open-concept area suited to meetings, training, private events, workshops, or a creative workspace. That section also includes two restrooms and a full kitchen, offering practical built-in support for day-to-day operations.
Recent improvements include a new roof, new plumbing, new electrical, a new furnace, and a new central air unit.
With approximately 3,900 square feet and a 0.12-acre lot, the property provides a straightforward layout for organizations that want a combination of individual workspaces and shared common area.
Recent improvements include a new roof, new plumbing, new electrical, a new furnace, and a new central air unit.
With approximately 3,900 square feet and a 0.12-acre lot, the property provides a straightforward layout for organizations that want a combination of individual workspaces and shared common area.
Key Highlights
- Newly renovated commercial building with nine private suites plus additional restrooms
- Open‑concept space on one side for meetings, training, private events, workshops, co‑working, or a creative studio
- Includes full kitchen and two restrooms in the open‑concept area
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$13,426
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.71%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$268,520
$268.5K
Cap Rate 7%
$191,800
$191.8K
Cap Rate 9%
$149,178
$149.2K
Market Conditions
NOI Build-Up for 3,900 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$23.4K $6.00/SF
− Vacancy
−$5.5K −$1.41/SF
EGI
$17.9K $4.59/SF
− OpEx
−$4.5K −$1.15/SF
NOI
$13.4K $3.44/SF
Area
ZIP 48227
Vacancy
23.50%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$268,520
Cap Rate 7%
$191,800
Cap Rate 9%
$149,178
Alternative Uses
Best Use
Office B
$191.8K
$167.8K – $223.8K
NOI $13,426 @ 7.0% cap · market cap 6.71%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$634.5K
$555.2K – $740.2K
NOI $44,414 @ 7.0% cap · market cap 22.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
636
Businesses Nearby
Explore this area
Business Placement
Demographics for 48227, MI
40,266
Population
19,933
Households
2
Avg Household Size
36
Median Age
12%
College-Educated
83%
High-School Grad
7.5 sq mi
ZIP Area
5,369
Density / Sq Mi
$36,221
Median Household Income
$31,797
Median Earnings
$1,034
Median Rent
$70,900
Median Home Value
Market
Vacancy Rate% for Office in Detroit, MI
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Newly renovated office building offers nine private suites plus an open-concept area with two restrooms and a kitchen.
Where is this office units located?
The property is located at 14750 Puritan Avenue Detroit, MI.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: Newly renovated commercial building with nine private suites plus additional restrooms; Open‑concept space on one side for meetings, training, private events, workshops, co‑working, or a creative studio; Includes full kitchen and two restrooms in the open‑concept area
